News and Information from Bond Buyer

Tender rates for the Treasury Department's latest 91-day and 182-day discount bills were mixed, as the three-months incurred a 0.035% high rate, unchanged from 0.035% the prior week, and the six-months incurred a 0.060% high rate, up from 0.055% the week before.

The city of Buffalo, N.Y.'s finances are improving, but challenges remain, according to a report released by State Comptroller Thomas P. DiNapoli.

The Treasury Department said Tuesday it will sell $12 billion of four-week discount bills Wednesday.

Light activity and few buy orders have held municipal bond levels in place to start Tuesday's session.

Week Of January 21 Issuer St Description Amount

Week Of January 21 Issuer St Description Amount

NEW JERSEY

ALABAMA

Day Indicator Last Report Forecast Thursday Initial jobless claims 1/11: 326,000 1/18: 326,000 Thursday Continuing claims 1/4: 3.030M 1/11: 2.940M Thursday Existing home sales Nov.: 4.900M Dec.: 4.950M Thursday Leading indicators Nov.: +0.8% Dec.: +0.2%

Jan. 21, 2014 Southwest: Plain/Insured GO Yield Curve* State Ratings One-Year Five-Year 10-Year 30-Year Arizona Aa3/AA+/NR 0.27 1.42 2.96 4.33 Arkansas Aa1/AA/NR 0.17 1.2 2.74 4.11 Colorado Aa1/AA/NR 0.19 1.31 2.86 4.26 Kansas Aa1/AA+/NR 0.17 1.21 2.75 4.15 New Mexico Aaa/AA+/NR 0.17 1.22 2.76 4.15 Oklahoma Aa2/AA+/AA+ 0.19 1.32 2.86 4.25 Texas Aaa/AAA/AAA 0.17 1.19 2.68 4.07 Utah Aaa/AAA/AAA 0.17 1.17 2.64 4.01

1/13/2014 1/6/2014 State Amount ($000s) Iss Amount ($000s) Chg in Amt ($000s) Arizona 9 $551,595 5 $365,175 $186,420 Arkansas 2 37,710 1 6,390 31,320 Colorado 1 13,000 2 14,750 -1,750 Kansas 7 203,672 3 152,402 51,270 New Mexico 1 3,500 0 0 3,500 Oklahoma 10 62,715 3 5,880 56,835 Texas 33 931,667 24 882,021 49,646 Utah 1 29,000 1 29,000 0

Tuesday, January 21 Issuer St Description Amount

Tuesday, January 21 Issuer St Description Amount

The primary market will be dominated by new-issue activity in the Northeast, led by a $1 billion Port Authority of NY & NJ consolidated bond issue that will be part of $5 billion of new volume expected.

Two recent solicitations for financial advisors in Orlando and Los Angeles illustrate the tensions between dealer and non-dealer advisors, as the Securities and Exchange Commission and Municipal Securities Rulemaking Board begin to put in place a regulatory scheme to create a level playing field between the two.

The New York City Transitional Finance Authority sold $946 million of future tax secured fixed-rate subordinate bonds.

Government

Municipal bond yields continued a two-day slide into Friday. Puerto Rico paper was stable to firmer, even after reports suggested that creditors were discussing a possible restructuring of the commonwealth's debt.

Puerto Rico Gov. Alejandro García Padilla has proposed several changes to oversight of the island's electrical system partly aimed at lowering electricity prices to strengthen the economy.